Moody's Investors Service says in a new report that rising investment in China's railways, roadways and urban rail systems this year and next will boost revenue growth for most rated Chinese construction companies, with China Railway Group Limited (CRG, A3 stable), China Railway Construction Corporation Limited (CRCC, A3 stable) and China Communications Construction Co. Ltd. (CCCC, A3 stable) set to benefit the most. "We expect CRG, CRCC and CCCC to benefit most from the increase in infrastructure investment, as more than 50% of their revenue comes from infrastructure construction, and the other half from construction and other segments," says Chenyi Lu, a Moody's Vice President and Senior Credit Officer.

Tuesday was the 30th anniversary of the Tiananmen Square massacre, when China on June 4, 1989, sent troops and tanks in to disperse pro-democracy student demonstrations. Mentions of Tiananmen Square, June 4, and even the numbers "46" and "64" -- short for "4-6" and "6-4," or references to June 4 -- are studiously censored on the mainland. Companies that want to do business in China also have mounting pressure on them to do the Communist Party's bidding in suppressing controversial content, making them active participants in this egregious editing of history.

Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of China Railway Group Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.